Jaguars owner Shahid Khan fine with $25 million pledge

Monday

Dec 19, 2011 at 12:56 AM

Vito Stellino

New Jaguars owner Shahid Khan remains 100 percent invested in Jacksonville beyond just a clause in the contract calling for him to pay $25 million to Weaver's favorite charity if Khan moves the team within five years.

In response to the report about the clause on the NFL Network, Khan's spokesman, Jim Woodcock, said, "Shad Khan is 100 percent invested in Jacksonville and the legacy built by Wayne and Delores Weaver. So when Mr. Weaver requested this feature [the $25 million clause], Shad was very amenable to any language in the purchase agreement to that effect."

He also suggested that Khan's first visit to Jacksonville as the owner last week reinforced his positive feelings about the city.

"Last week was a terrific experience for Shad, highlighted by his first opportunity to be in Jacksonville to meet the team, coaches, employees, city leaders and Jaguars fans and express his unqualified commitment to the Jacksonville community. He is looking forward to getting to work when the purchase closes on Jan. 4," Woodcock said in the statement.

Watch Shahid Khan's official introduction to Jacksonville

Khan would face formidable hurdles if he tried to move the team within five years, with the $25 million fee the least of them.

He would have to show losses three years in a row to break the lease with the city, and the new collective bargaining agreement and the new TV contracts make it almost impossible for the Jaguars to lose money even if they don't get sellouts.

And to buy his way out of the lease would require a massive fee, and the league would want a substantial relocation fee to move the team to another city.

Khan also seems convinced he can find ways to draw sellout crowds to EverBank Field. Khan said last week that filling the seats is important not only from a monetary standpoint but a filled stadium provides enthusiasm and energy for the players.

Although the Jaguars haven't blacked out any games in the past two years, they haven't had any sellouts.

If there were unsold non-premium tickets, Weaver was willing to write a check to the league for 34 percent of the face value of the tickets to avoid a blackout.

The unsold premium tickets don't count toward the blackout number of slightly more than 50,000 non-premium tickets.

Khan said he hasn't decided whether to continue to show the games when the non-premium tickets aren't sold, but he said he wants to sell the tickets so he doesn't have to make that decision.

Vito Stellino: (904) 359-4279

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